Treasury dividing military industry

Alan Heath
opublikowano: 23-11-2001, 00:00

Three days ago treasury minister Wiesław Kaczmarek said that plans for the privatisation of the military sector need a second look.

The recently appointed minister wants to revert to a five year old plan to divide the sector into ammunition, armour, electronic and aviation sectors.

This consolidation is seen by many industry insiders as being the only way to save the heavily indebted sector.

Very few of the companies in the sector have a chance of being profitable and those in the best situation, PZL Okęcie, WSK Rzeszów and PZL Mielec as well as Warsaw based Radwar have already been sold. Funds made available from these sales could now be used as the base for consolidating the rest of the sector.

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Podpis: Alan Heath